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Johanna Kyrklund and Willem Sels

Think Wealth CIO Exchange
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Portfolio construction amid AI innovation and policy uncertainty

by Willem Sels, Global Chief Investment Officer, HSBC Private Bank and Premier Wealth and Johanna Kyrklund, Group Chief Investment Officer, Schroders
Mar 24, 2026

We’re delighted to bring you the first episode of our new Think Wealth CIO Exchange series. Through this series, we aim to enrich our content by entering in a dialogue with the Chief Investment Officers from other leading financial institutions.

Markets operate through the interaction of private and institutional investors, as investors don’t just analyse the data but also compare their views to other narratives. We believe this dialogue will complement our own analysis and enrich the debate. 

Each time, we will pick topics that are highly relevant for investors. To kick it off, we discuss how to allocate amid rapid AI-led transformation and policy uncertainty. We cover the relative valuations concerns and prospects of the US compared to other markets, how to deal with de-dollarisation, and try to spot some longer-term trends stemming from the policy changes.

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In this video, Willem Sels, our Global CIO and Johanna Kyrklund, Group Chief Investment Officer at Schroders, get together to debate and discuss on: Whether US equities can continue to outperform in 2026? How are we addressing US concentration concerns? Can US dollar weakness persist? How to identify key global trends from the noise?

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